The President said that the recent period has been one of enormous economic changes for India – of soaring aspirations and achievements. The introduction of the Goods and Services Tax has been a milestone. It has broken down barriers between states. It has provided a boost to the creation of a common market and a more formal economy. Filing of taxes under GST has been made progressively smoother. The switch from cash to digital payments has been notable and has created new opportunities. The simplification of procedures for tax payers, business-persons and investors has led to India making significant advances in Ease of Doing Business. The opening of more and more sectors to greater private and global investment has also drawn appreciation. As a consequence of this, there has been a sharp rise in FDI in the past three years – from US$ 36 billion in 2013-14 to US$ 60 billion in 2016-17.
The President said that the economic future of India is being written by states and state governments, such as that of Uttar Pradesh.The President said that the Uttar Pradesh government has shown determination in providing a facilitative environment for business and for investors. The ‘Nivesh Mitra’ single-window-portal has made it easier to start an enterprise in the state. The state government has begun implementing the ‘Business Reform Action Plan 2017’ as per the union government's suggestions.
